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Option Update: Advanced Micro Devices volatility elevated

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Advanced Micro Devices (NYSE: AMD) lowered its outlook for 1Q08 due to lower than expected sales across all business lines.

AMD also indicated it plans to reduce 10% of its headcount by the end of 3Q08.

Jeffries & Co says: "The difficult transition to 45-nanometer geometry and large net debt position cause us to maintain our Hold rating and $7 price target."

Abu Dhabi purchased a $622 million dollar stake in AMD in November 2007.

AMD overall option implied volatility of 73 is above its 26-week average of 67 according to Track Data, suggesting larger price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

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DJIA+73.0010,270.47
NASDAQ+18.862,167.88
S&P 500+6.241,093.48

Last updated: November 14, 2009: 11:48 AM

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